Robert Kiyosaki, the acclaimed scribe behind the top-selling tome “Rich Dad Poor Dad,” has issued a caution that all markets, including precious metals like gold and silver and cryptocurrencies like bitcoin, are susceptible to collapse. Nevertheless, he perceives these market drops as opportunities to purchase more, specifically mentioning an intention to increase his bitcoin holdings.
Robert Kiyosaki Issues a New Warning About a Market Crash
Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has once again caught the attention of the financial world with his latest warning about the imminent market crashes. This 1997 publication, co-written with Sharon Lechter, has been a best-seller for over six years, with over 32 million copies sold in 51 different languages across 109 countries. The book has been praised for its financial insights and practical advice, making Kiyosaki a highly respected voice in the financial community.
Recently, with the news of 144,000 tech industry layoffs in 2022 and a further 66,000 in the current year, Kiyosaki took to Twitter to share his thoughts with his 2.3 million followers. In his tweet, he stated that everything will eventually crash, including precious metals such as gold, silver, and even the popular cryptocurrency, bitcoin. This bold prediction has raised concerns among investors and sparked debates in financial circles.
However, despite his dire warning, Kiyosaki reassured his followers not to panic. Instead, he advised them to use “fake” dollars to purchase more of these “real money” assets, which he believes will hold their value in times of market turmoil. This advice, while controversial, is in line with Kiyosaki’s philosophy that one should be proactive and prepared for economic downturns.
Kiyosaki’s previous explanation of gold, silver, and BTC
Kiyosaki’s view on money is a unique one. He considers gold, silver, and bitcoin to be real money, while he refers to the U.S. dollar as fake money. He believes that the U.S. dollar is not tied to real money, like gold, but instead is tied to the “full faith and credit” of the United States, making it a less secure form of currency.
The author has made it clear that he does not trust the Biden administration, the Treasury, the Federal Reserve, or Wall Street, and this mistrust extends to the U.S. dollar. He has warned about market crashes on several occasions, including the possibility of the “biggest crash in world history.” In October of last year, he predicted that the stock, bond, and real estate markets would crash as the Federal Reserve continued to raise interest rates. He advised investors to buy gold, silver, and bitcoin instead, as he believes these assets will hold their value during a market downturn.
Kiyosaki also believes that bitcoin investors will become wealthier as the Federal Reserve pivots and prints trillions of dollars. He is known for his bold predictions and contrarian views, and his latest thoughts on the economy and money are sure to generate plenty of discussion and debate. Whether or not his predictions come to pass remains to be seen, but one thing is for certain: Kiyosaki continues to be a major influencer in the financial world and his opinions are widely followed by millions of people around the world.
Kiyosaki foresaw the decline of the US dollar back in October of the preceding year. In his recent statements, he has warned the world about a worldwide economic recession, with the possibility of an increase in bankruptcies, joblessness, and homelessness.
Last September, the author of Rich Dad Poor Dad, advised investors to turn to crypto before the biggest crash in history occurs. Kiyosaki previously shared that he invests in bitcoin and is not a trader, so he is undaunted by drops in the value of BTC. He considers bitcoin to be “people’s money” and expressed his fondness for cryptocurrency.
However, while he plans to continue acquiring more BTC, he also warned that the SEC might suppress the growth of other digital currencies.
Robert Kiyosaki’s warning about market crashes should not be taken lightly. With his vast experience in the financial industry and his proven track record as a bestselling author, his predictions should be given careful consideration. Whether or not his advice to use “fake” dollars to purchase precious metals and bitcoin proves to be wise remains to be seen, but one thing is for certain – Kiyosaki’s opinions and advice continue to shape the financial world and influence the thinking of millions of people around the world.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.